Wal-Mart slashes iPhone 5S, 5C prices to $99, $29

Wal-Mart has cut prices on the iPhone 5S to $99 and the iPhone 5C to $29 with a new two-year phone contract.

The permanent price change started Friday and is available in stores only. The 16GB 5S was $149 and the plastic 5C was $49 at Wal-Mart. Customers must sign up for a contract with Sprint, Verizon, AT&T or US Cellular to take advantage of the deal.

The new prices are deeply discounted from Apple's prices of $199 for the 5S and $99 for the 5C. Both models were introduced late last year.

Even with the price cuts, analysts expect many customers will wait for a future iPhone 6.